When Tempus recommended avoiding De La Rue back in February, the turnaround of one of the oldest listed companies on the London stock market was in its infancy (Alex Ralph writes).
Clive Vacher, who was parachuted in as chief executive last October to rebuild investor confidence and its share price, had only just delivered his turnaround plan to the City.
De La Rue was then facing external uncertainties which cast doubt over its revival. In the eight months since, however, a number of these have been addressed, leaving management on a firmer footing to focus on the three-year strategy.
The Serious Fraud Office dropped its 11-month investigation over suspected corruption in South Sudan in June and the following month De La Rue completed a £100